Tesla has ended the day down 15% at $222.15, its lowest point since October.
That confirm the company has halved in value since its all-time high in December.
Wall Street close
A late update, just to catch the close of the New York stock market.
And there’s oceans of red across Wall Street tonight, where the Dow Jones industrial average has shed 890 points, or just over 2%, to close at 41,911 points tonight.
The S&P 500 index had a grim day too, ending 2.7% lower, or -155 points, at 5,614 points, as growth fears hammered US stocks.
The tech-focused Nasdaq slumped by 4%, its biggest daily drop since September 2022.
Donald Trump’s seemingly blasé attitude to the risks that his policies might push the US into recession are being blamed for today’s selloff, which also hit European stocks today.
Ross Mayfield, investment strategist at Baird in Louisville, Kentucky, says:
“The Trump administration seems a little more accepting of the idea that they’re OK with the market falling, and they’re potentially even OK with a recession in order to exact their broader goals.
“I think that’s a big wake-up call for Wall Street. There had been a sense that President Trump kind of measured his success on stock market performance. There was even somewhat of a “Trump put” so to speak. And I think we’re seeing that’s not the case, so the market is starting to reflect that reality.”
Updated
